MGIC: 1Q Earnings Snapshot

MILWAUKEE (AP) _ MGIC Investment Corp. (MTG) on Thursday reported first-quarter profit of $149.8 million.

On a per-share basis, the Milwaukee-based company said it had profit of 42 cents.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.

The mortgage insurance company posted revenue of $306.9 million in the period. Its adjusted revenue was $305 million.

MGIC shares have declined 47% since the beginning of the year. The stock has decreased 48% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MTG at https://www.zacks.com/ap/MTG